Opendoor brings back its founders and welcomes a new CEO from Shopify—who could earn $2.8 billion if he sends the stock soaring

Core Insights - Opendoor Technologies has appointed Kaz Nejatian as CEO with a compensation package potentially worth $2.78 billion, contingent on significant stock price performance [1][3] - Nejatian's compensation structure emphasizes equity awards tied to stock price, marking a shift from traditional CEO compensation plans [3][4] - The company is returning to a "founder mode" approach, with founders Eric Wu and Keith Rabois taking active roles on the board [2][3] Compensation Structure - Nejatian will receive a $15 million cash award and a $15 million restricted-stock unit award, both vesting in nine months [3] - He will also receive performance-based awards, including 40.9 million shares that vest over five years, contingent on maintaining a stock price of $6.24 or higher [4] - A second performance award includes seven stock price hurdles ranging from $9 to $33, with vesting tied to achieving these price milestones [5] Leadership Changes - The board will include Opendoor's founders, with Rabois appointed as chairman, aiming to reinvigorate the company's "founder DNA and energy" [2][3] - Two directors, Pueo Keffer and Glenn Solomon, have stepped down, indicating a significant leadership reshuffle [2]